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all know today a special day in washington. we've been watching the events there is your troun there surrounding the 50th anniversary of martin luther king i have a dream speech. we will be momentarily hearing a pealing of bills to mark that moment. after that president obama will be speaking to commemorate that moment. let's bring in john harwood in washington who has been following the day's moments. a poignant moment coming up with the nation's first african-american president. >> no question. we heard from bernice king, the daughter of martin luther king. she was born precisely five months before he delivered that speech. and it was a speech that has stood the test of time as one of the great pieces of rhetoric in american history. >> one of the measures we take now is how much progress has been made since the speech was made 50 years ago in terms of civil rights, job equality and so forth. >> in terms of political progress it's been substantial. we got an african-american in the white house. we have black americans in the last two presidential elections that actually voted
ago today, august 5th, 2011, stand & poors downgraded the credit rating. more from eamon in washington. eamon? >> reporter: hi, kelly. the markets are up a ton since then. but congress this week anyway is out on vacation. it's august here in washington, and that means the members of congress ski dadled at the end of the session last week. they're going home to their districts. they're going out to campaign. they're going out to raise money, on vacation. what they're not doing in washington is dealing with the next fiscal crisis that could be looming right around the corner. remember, at the end of the fiscal year comes in september, they're coming back in session september 9th. but at the end of the month, they're going to have to come up with something to do with the federal budget, possibly a continuing resolution that could be contentious. and after that, later in the fall, the debt ceiling fight. we'll have that all over again. even though the deficit itself has been going down, because remember, earlier this year, we did raise taxes and lower spending through sequester. it was --
on the washington post rising in today's trade, as bezos agrees to buy the publishing assets for $250 million. bill, back to you. >> that's amazing. thank you, josh. bob, i remember the days, when we would say, what would barry do next, barry diller? now we'll have to be asking, what's jeff going to do next, right? >> yeah, i think the big thing here is it's just amazing how the media landscape has been changing. the "washington post" story, for example, just came completely out of nowhere. nobody even knew he'd be interested in buying something like that. and i think the price was a little bit shocking. particularly coming on what the boston story -- what the -- what was going on with boston and the price they paid there. i'm blanking on the cost of what happened up in boston. two big newspapers sold at rather shockingly low prices in the last week or so. >> yeah, they sold it to john henry for $70 million. >> reporter: thank you. >> "the new york times" paid $1.1 billion for that not too long ago, and they're selling it for $70 million. so bargain-basement there, and pretty much, you could say th
-emptively, which is sort of a standard washington exercise that i don't like. because when somebody's worked hard for me and worked hard on behalf of the american people, and i know the quality of those people, and i see them getting slapped around in the press for no reason -- before they've even been nominated for anything -- then i want to make sure that somebody's standing up for them. i felt the same way when people were attacking susan rice, before she was nominated before anything. you know, i tend to defend folks who i think have done a good job and don't deserve attacks. but i consider them both outstanding candidates. my main criteria -- i've stated this before, but i want to repeat it. my main criteria for the fed reserve chairman is somebody who understands they've got to do a mandate. a critical part of the job is making sure that we keep inflation in check, our monetary policy is sound, that the dollar is sound. those are all critical components of the job, and we've seen what happens when the fed's not paying attention. you know, we saw prior to paul volcker coming into place infla
think the regulatory agencies in washington today are totally impacted by the political environment there. they're simply responding to the politics that are going on in washington. they know what the right answer is. but they don't have enough fortitude to tell the truth and say, hey, these are wrong. >> dick, we always appreciate your -- >> thank you. >> -- your candor. thanks, sir. >> thank you. >> see you soon. >>> all right. heading toward the close now. about 35 minutes left on the expiration day. the dow trying to get back to positive territory, but down 11 points right now. >>> bill, the market may be down for the week, but have you looked at apple lately? the stock is up 10% since monday. what a good week it's had. up next, we'll hear from somebody who says the stock is still cheap. >>> and it's certainly tgif as far as the market is concerned. coming up, we'll discuss whether the pullback is a repeat of what happened in june when we quickly shot back to new all-time highs, or if this is actually the start of the bigger and deeper correction so many have been predicting. mo
by the syrian regime. we have ammon javier javers. >> hi, bill. secretary of state speaking here in washington. forceful words. here's a little bit of the secretary of state explaining what the stakes are here. >> our sense of basic humanity is offended not only by this cowardly crime but also by the cynical attempt to cover it up. at every turn, the syrian regime has failed to cooperate with the u.n. investigation. using it only to stall and to stymie the important effort to bring to light what happened in damascus in the dead of night. >> a couple of key points here. the secretary of state saying that although investigators are still getting access to the scene, some of those u.n. investigators in particular have been actually fired upon as they try to get there to see if that i remember determine which chemical weapons may have been used here, the secretary of state saying chemical weapons were used in syria. he also said that the president of the united states stands ready to make an informed decision about what to do in response to that. he said there must be accountability. the secretary
for years by the department of justice, by the sec and every other regulator in washington. what you've got to date is handful of cases from the sec, the doj saying there is no criminal liability. and now, we've got this new residential mortgage backed security working group that came out of the president's state of the union address and they are rehashing the same old same old. the same old same old gets you the same old results and i think that's what you will see here. >> you don't think anybody -- there is a likelihood that anybody would go to jail if the investigation produces criminal charges or convictions? >> no. i think it would be very surprising it see any kind of criminal charges here. i think what you're going to see is cases like we saw earlier this week. sec bringing a case against bank of america. that's a negligence case is based on the sale of one security or one securitization. one single transaction. and that's it. and you may see more cases like that. but you're not going to see what congress seems to want. what the public seems to want. is executives going to prison. j
the last great economic expansion, all of the opposite's happening in washington right now, and that's why we're not getting growth in this country. and that's why we're not getting growth anywhere. you can get valuation in the emerging markets. >> got it. bill stone, what do you expect the fed minutes to show tomorrow? is that a potential market mover, or is it a snoozer, do you think? >> you know, i think it's a potential market mover. i think, you know, everyone, including myself, is going to be trying to figure out, you know, whether there's some clue in there around the timing of the taper. i think that's really probably people pay more attention to that than jackson hole now, because you really don't have the big players, at least speaking, even, or even there, and i think at the end of the day what it will say to you is you'll have to watch the data to know when they'll taper. >> do you think they would actually discuss a potential timetable for when they would plan to taper, and would that show up tomorrow? >> i don't think they're going to say a specific time -- >> i don't persona
, don, very much. washington is watching all of this very carefully. the president has just been broefed on what we are now calling the flash freeze. >> the president of course, is on a bus tour of upstate new york. he is in rochester new york today. he has been talking about college pricing so this is off topic but of course they have all of the communications gear that they need on that bus to keep the president up to speed on anything that's going on in the world including now today. this disruption over at the nasdaq. not much, the president of the united states can do about this but they always want to keep him up to speed on anything that represent any kind of disruption to the u.s. economy. bill. >> all right, thanks very much. >>> meantime, as we head toward the close, i presume nasdaq will close at the normal time. we will see as the trading progresses. the dow is in rally mode. up 77 points. six straight down days, maria, where the dow lost more than 3%. now we are in come back mode today. a gain of 79. almost back to 15,000 right now. >> i ronnic, isn't it? will trading halt d
in washington and across the nation to start to move the momentum. i think of it as the momentum of a flywheel, and we need to get this moving, and it can start to feed on itself. and some of this would revolve around our tax policies and where we really need comprehensive tax reform. we need other steps to start to create a growth story here in the united states, but business can be a part of that. investing in the united states, creating jobs, because that can start the cycle, also. >> what are you expecting from back to school and from the holidays? here we are looking at all of the products for the holidays. do you have an anticipation at this point? >> i do anticipate that customers are smart, and they have more information than they've ever had. they are looking for value, and they look for quality. so i do think they'll continue to be pressured. i think the overall consumer spending in the united states, and frankly around the world, will be under pressure through the back-to-school and through the holiday season. but i think where customer dissee value and quality and their needs be me
Search Results 0 to 9 of about 10